1. Field of the Invention
This invention is generally related to wagering.
2. Description of the Related Art
A wager is an agreement under which each bettor pledges something against the outcome of an unsettled matter. For example, wagers are placed on the outcome of a game of skill or chance. Such games may include casino type table games, such as baccarat, blackjack or twenty-one, roulette, Caribbean stud poker, Tai Gow poker, Hi/Low, Let-It-Ride™, and craps. Such games may also include non-table games, such as slot machines and video poker. Additionally, wagers may be placed on the outcome of events, including sporting events such as horse racing and car racing, as well as various games such as baseball, football, basketball, golf and tennis.
Wagering can take place in many types of environments including controlled environments such as casinos, racetracks and licensed betting parlors, as well as in uncontrolled environments. Licensed wagering is a fast growing business, and is becoming increasingly prevalent on the World Wide Web portion of the Internet.
Each wager typically includes a set of odds setting the payout for a successful wager and approximately reflecting the probability of a particular outcome. Often the odds will include a bias in favor of the house. Often a winning or successful wager is paid an amount of money greater than the amount of the wager, as determined by the particular odds. For example, a successful wager of $50 at 2:1 odds is paid $100 or two times the wager amount. Many games of chance, such as roulette, craps and twenty-one permit different wagers at different odds. The number of options may prove daunting to a beginner, discouraging new players from learning to wager. Additionally, many casinos have more patrons during busy times than can be adequately handled at the various wagering or playing positions in the casino.